Travelers Sells Most Of Canada Operations To Definity For $2.4 Billion
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 28 2025
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Source: Benzinga
Travelers Companies Divestiture: Travelers Companies, Inc. has agreed to sell its personal and most commercial insurance operations in Canada to Definity Financial Corporation for approximately $2.4 billion, while retaining its Canadian surety business. The deal is expected to close in early 2026, pending regulatory approvals.
Financial Impact and Future Plans: The company plans to use around $0.7 billion of the proceeds for share repurchases in 2026, with the remaining funds allocated for ongoing operations. This transaction is anticipated to slightly enhance earnings per share over the coming years.
Analyst Views on IAK
Wall Street analysts forecast IAK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IAK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 130.945
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Current: 130.945
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
